Category Archives: Chapter 13
How Florida consumers can break the debt cycle
Many people have concerns about paying off their credit card debt, and recent statistics indicate that these fears are justified. According to reports, the average household credit card debt is $5,700, and nearly 40 percent of American households are carrying a balance on their cards. Average credit card balances also vary by age group…. Read More »
Credit card debt after retirement
Most retirees in Florida have long anticipated enjoying an active life in the sun after many years of work. Unfortunately, life circumstances often force seniors to use their credit cards to cover unexpected expenses. As a result, these retirees may find themselves strapped to excessive debt that they have difficulty paying off. In some… Read More »
Pros and cons of filing for bankruptcy
Individuals in Florida who are dealing with significant debt issues may be able to find relief by filing for Chapter 7 or 13 bankruptcy. Chapter 7 allows an individual to liquidate assets to pay creditors while Chapter 13 allows debtors to reorganize their debt. However, before an individual decides to file, it may be… Read More »
Not all debts dischargeable in Chapter 13
When Florida residents are overwhelmed by their financial obligations, bankruptcy may be a good option. The two major forms of consumer bankruptcy are Chapter 7 and Chapter 13. However, it’s important to realize that federal laws impose some limits on the amount and type of debt that can be discharged by a bankruptcy court…. Read More »
How elderly people can truly avoid debt collectors
There are many elderly people in Florida who struggle with money. Those that live mainly off of Social Security benefits may be forced to use credit cards to cover emergency expenses or just make ends meet every month. When credit card bills start to add up, an elderly person who has no prospect of… Read More »
Darius Miles asks for protection from creditors
Miami Heat fans may be interested to know that former NBA player Darius Miles filed for Chapter 7 bankruptcy after saying a string of bad investments led to financial problems. At the time of his filing, he reported $460,385 in assets and $1.57 million in liabilities including $20,000 in child support. Miles was the… Read More »
It may be time to get help for out-of-control debt
Florida residents who struggle to pay their bills each month and have no extra money left over are not alone. In fact, 62 percent of people around the country do not have even $1,000 in a savings account, and one-third of Americans have no money saved for retirement. One of the reasons some people… Read More »
Tips for eradicating credit card debts
With the high cost of living nowadays in Florida and throughout the country, a great deal of people may find it difficult to get by without using credit cards. In fact, because most credit cards carry interest rates of up to 30 percent and steep penalties for missed payments, credit card debt ranks as… Read More »
Why Florida residents are turning to credit cards
According to WalletHub, Americans accumulated $34.4 billion in credit card debt during the second quarter of 2016. That is thought to be the highest amount of debt accumulated in a second quarter since at least 1986. That was the first year such data was collected, and consumers may go over $1 trillion in outstanding… Read More »
Reality TV star files for Chapter 13 bankruptcy
Chapter 13 bankruptcy is the latest development in the life of reality TV star Dawn Heflin that might interest Florida fans. Documents say that she owes over $263,000 and has assets worth $235,719. This includes $320 in checking and $100 in savings. She also has a house with a value of $172,000, households goods… Read More »